Bedford Energy (BFDE)

[Tom G]

PRESS RELEASE
Aug. 20, 2010, 3:05 p.m. EDT · Recommend · Post:
CanTex Energy Corp. Announces New Management and Letter of Intent to Acquire Bedford Energy Inc.

SAN ANTONIO, TX, Aug 20, 2010 (MARKETWIRE via COMTEX) -- CanTex Energy Corp. (PINKSHEETS: CTXE) (Cusip 138116108) is pleased to announce that it has entered into a letter of intent for the acquisition of Bedford Energy Inc. (PINKSHEETS: BFDE). The completion of the acquisition is anticipated to close before October 20, 2010. The Combined entities complement each other with the seismic skill base of CanTex fitting in with the drilling and operations of Bedford. After closing, the combined entities will have over 250,000 BOE in engineered proven oil and gas reserves behind pipe, and some 1,600,000 BOE in proven undeveloped.

The Company also announced that effective immediately, Bruce Scambler has been appointed to the Board of Directors and will serve as its Chairman and Company CEO. Harvey Bryant has also been added to the Board of Directors and will serve as the Company's President. Trace Maurin will continue on the Board and will serve as COO with current focus on the Texas Operations and Texas seismic exploration and lease prospect development.

Nature of Issuer's Business: CanTex Energy Corp. (the Company) is a development stage, independent natural gas and oil company engaged in the acquisition, exploration, and development of natural gas and oil properties in the United States and Canada.